S
sp@rtacus
Guest
Hi
The vendor of a property that a friend of mine (honestly) is looking at has offered to drop the sale price below the stamp duty threshold if the balance was paid in cash. He is currenlty mortgage approved up to and above the original valuation. Can he drawdown the original valuation amount, lets say 375k, sign contracts at say 315k therefore avoiding SD and pay the remaining 60k in cash to the vendor?
I realise the ethical implications of this, but just wondered if it is feasible/possible.
All advise/comments/criticsim welcome.
Thanks in advance.
The vendor of a property that a friend of mine (honestly) is looking at has offered to drop the sale price below the stamp duty threshold if the balance was paid in cash. He is currenlty mortgage approved up to and above the original valuation. Can he drawdown the original valuation amount, lets say 375k, sign contracts at say 315k therefore avoiding SD and pay the remaining 60k in cash to the vendor?
I realise the ethical implications of this, but just wondered if it is feasible/possible.
All advise/comments/criticsim welcome.
Thanks in advance.